Dolby 5.1/DTS/MPEG 5.1 can all be transmitted over Coax, or Optical without any problem. You need pretty high end kit before you can hear any difference between optical and coax, so no worries there.
THX.. well thats a kettle of fish isnt it. Just because Mr Lucas's hifi system is too 'bright' he thinks we all need to have all sorts of filters put in the path of our movie soundtracks. Pah what nonsense. My Tag Mclaren AV32R is THX Ultra 3 rated, but I never use the THX mode, it just sounds so much better running the way Tag intended, without the extra processing.